Key Takeaways Chevron is expanding downstream operations in South Korea, focusing on petrochemicals and heavy oil.The GS Caltex joint venture and Yeosu refinery are central to Chevron's Korea investment strategy.CVX pairs Korean expansion with global cost-cutting, including a 15-20% workforce reduction in 2025.Chevron Corporation (CVX) , one of the world’s leading integrated oil and gas companies, is strategically expanding its downstream operations (the refining, processing, marketing and distribution of p ...